Ann: March 2021 Quarterly Report and Appendix 4C, page-13

The sp jumped up by soo much because of the west elk and kinderhook buying. ran it all the way to 84c odd so that wasn't really a fair representation of what the wider market thought of the stock.

I didn't mention the cash stand alone because it's use was implicated in the acquisitions line but you're right, there is a lot of cash there.

If I had of stumbled across this company today and seen it's share price with the revenue built up, close to break even EBITDA and the cash at bank I'd be licking my lips... until I saw that the growth progression took a big hit this quarter/year.

The seasonality of the co and it's revenue means you're in the dark for a while and it's basically a non-event until you're back to the march quarterly unless they have some acquisitions. Sept/Dec quarterlies are prime for acquisitions - assuming this time is best for the co with respect to receiving the revenue and paying tax for the acquisition

Hopefully there's some nice acquisitions along the way...I sold 35% of holding on the morning of the announcement and am feeling a little cornered into holding the rest until there's a structural change in the depth of the co. I don't like TA but it should be considered for entry/exit. I'm also hopeful that they've realised that there's a lot more that they could be doing to maintain the growth story up until now